The Ogun State Chamber of Commerce, Industry, Mines, and Agriculture (OGUNCCIMA) has warned that the recent fuel price hike will have devastating effects on the economy, businesses, and citizens. In a statement, OGUNCCIMA President Niyi Oshiyemi cautioned that the increase will lead to job losses, reduced economic activity, and higher poverty levels, disproportionately affecting low-income earners and small business operators.
Oshiyemi urged the Federal Government to take immediate action to mitigate the negative effects, advocating for a reduction in the pump price, support for businesses, and investment in alternative energy sources. He emphasized the need for constructive dialogue to find lasting solutions.
The chamber’s warning comes as the fuel price hike continues to spark reactions across the country, with many expressing concerns about its impact on the economy and citizens’ welfare. The Federal Government’s response to the situation will be crucial in addressing the concerns raised by OGUNCCIMA and other stakeholders.
